China's Anhui ARN takes 6% stake in German auto supplier SHW

China's Anhui ARN takes 6% stake in German auto supplier SHWFRANKFURT: China's Anhui ARN Group has taken a 6.06 percent stake in German automotive supplier SHW AG , according to a regulatory statement on Friday.

SHW, which has roots as a steel-maker going back to 1365, makes pumps and engine components for cars, trucks and wind power stations.

Anhui ARN Group will be the company's second largest shareholder behind Commerzbank which holds 10.8 percent, according to Thomson Reuters data.

SHW, which has a market capitalisation of 160 million euros ($177 million), has hired Berenberg as an adviser to look at options following Anhui ARN's investment, two people familiar with the matter told Reuters. Berenberg and SHW declined to comment.

SHW Group has four manufacturing sites in Germany and employs almost 1,300 workers. It generated sales of 463 million euros in 2015 and said it expects sales of more than 100 million euros in China by 2020.